The New Year has begun and with it, many buyers and sellers have a change of housing in their new year resolutions. While ongoing unemployment claims are still elevated, it is less than one quarter of what it was at its high during the early days of the pandemic. With interest rates remaining near record lows, the stock market near record highs, and inventory of homes available still constrained in most segments of the market, the year is setting up to be another filled with strong demand and limited supply.
In the Twin Cities region, for the week ending January 2:
- New Listings decreased 25.8% to 519
- Pending Sales increased 17.0% to 653
- Inventory decreased 38.1% to 5,511
For the month of November:
- Median Sales Price increased 10.7% to $310,000
- Days on Market decreased 33.3% to 34
- Percent of Original List Price Received increased 2.8% to 100.2%
- Months Supply of Homes For Sale decreased 40.9% to 1.3
All comparisons are to 2020
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.